Bercman Technologies (BERCM) H1 2024 earnings summary

Executive summary

• Bercman Technologies reported a consolidated turnover of €692,332 for H1 2024, down from €869,295 in H1 2023, with a net loss of €350,532 compared to a €160,384 loss a year earlier.

• The group expanded development services to new markets, including Ireland, and launched Bercman Energy to focus on fast EV chargers.

• Export demand for proprietary products decreased due to global macroeconomic and geopolitical factors, but development services saw increased demand.

Financial highlights

• Revenue declined 20% year-over-year to €692,332; net loss more than doubled to €350,532.

• Cash and cash equivalents at period end were €88,727, down from €89,596 a year earlier.

• Equity decreased to €867,382 from €1,204,433 year-over-year.

• Current assets fell to €332,898 from €475,867; current liabilities rose to €723,546 from €597,761.

• Labor expense increased to €632,111 from €572,792 year-over-year.

Outlook and guidance

• Management expects continued growth in development services demand in H2 2024.

• Sales orders for smart pedestrian crossing solutions are anticipated to materialize in Greece and Croatia after H1 delays.

• Bercman Energy's fast charger will be presented at major industry events in H2, with first deliveries planned for Q4 2024.